Category: Other
Kenya crisis hits tea hard
NAIROBI, Jan 17, 2008 (AFP) – Tea is a casualty of the turmoil sparked by disputed presidential elections in Kenya, with thousands of workers forced to flee plantations in one of the world’s top exporters, industry sources say. Between 26,000 and 70,000 tea sector employees from the western region of Kericho, where Kenya’s main plantations […]
Sri Lanka coconut prices may ease, but not much
Jan 16, 2008 (LBO) – Sri Lankan coconut prices which have soared in recent months are expected to ease by end-February as new crops come in but will remain high as world edible oil prices were high, industry officials said. “The shortage of nuts could ease towards the end of February but I’m not sure […]
British bank Northern Rock looking for suitors after defeating rebel shareholders
LONDON, Jan 15, 2008 (AFP) – Northern Rock, the British bank almost sunk by the global credit crunch, on Tuesday defeated most of the plans by rebel shareholders to limit management’s ability to sell the group without consulting investors. However, the Financial Times on Tuesday reported that Brown would not be forced into making a […]
Way Open
SYDNEY, Jan 15, 2008 (AFP) – Nauru authorities have dropped sexual assault charges against six Sri Lankan asylum seekers, paving the way for their claims to be processed, Australian immigration officials said Tuesday. The six are among the last asylum seekers held in an Australian immigration detention centre on the Pacific island which Australian Prime […]
Record-breaking gold could hit 1,000 dollars: analysts
LONDON, Jan 15, 2008 (AFP) – The price of gold is hitting new record highs owing to the troubled US economy and a cocktail of other supportive factors, leading some analysts to predict 1,000 dollars per ounce could happen soon.In recent days the precious metal has blasted past 900 dollars in a record-breaking run. Unprecedented […]
Sri Lanka stops pepper exports to India under free trade deal
Jan 14, 2008 (LBO) – Sri Lanka has stopped exporting pepper under the Indo-Lanka Free Trade Agreement (FTA) because of restrictions imposed by India, a top exporter has said. Gulam Chatoor, former chairman of the Spices and Allied Products Producers and Traders Association said India’s imposition of a cap of 2,500 tonnes a year on […]
No Justice
Jan 14, 2008 (AFP) – A Sri Lankan man has been released from prison after spending 50 years on remand, his lawyer said Monday.D.P. James, now 80, was arrested in August 1958 for attacking and wounding his father with a knife. He was sent to jail, then moved to a psychiatric hospital, and then discharged […]
China sets 2008 inflation target at 4.6 percent
SHANGHAI, Jan 14, 2008 (AFP) – China has set an initial inflation target of 4.6 percent for 2008, up from three percent last year, state media reported Monday, reflecting a recent spike in the prices of consumer products. The National Development and Reform Commission also set a target for economic growth this year of eight […]
Maldives economy slows in 2007: central bank
MALE, Jan 14, 2008 (AFP) – Economic growth in the Maldives slowed to 6.6 percent in 2007, the islands’ central bank said Monday as high oil prices and a drop in the fish catch impacted on the economy. Economic growth, down from a staggering 19 percent in 2006, was however better than the 5.5 percent […]
Troubled Gulf Air places US$4bn Boeing order
MANAMA, Jan 12, 2008 (AFP) – The Bahrain-based airline Gulf Air has ordered 16 Boeing 787 Dreamliners valued at around four billion dollars and taken options for eight more, an airline official told AFP on Saturday.Gulf Air places four billion dollar order with Boeing ATTENTION – ADDS background /// “Gulf Air has signed today (Saturday) […]
Zimbabweans off banks after cash crunch
HARARE, Jan 13, 2008 (AFP) – Kennedy Tsambo’s faith in Zimbabwe’s banking system finally hit breaking point over Christmas when he spent an ultimately fruitless three days queuing to withdraw cash in order to buy a bus fare home. “This was not a donation that I was queuing for, it’s my own money which I […]
Sri Lankan betel farmers benefit from Pakistan buying: minister
Jan 12, 2008 (LBO) – Pakistan’s removal of a quota on Sri Lankan betel leaf exports has helped raise the quality of life among growers in three of the island’s districts, a government minister said. The government is keen to ensure that the benefits of the island’s burgeoning exports flow down to the villages in […]